A 10-hole drill program was recently completed on the Bend vein, a gold exploration target near Stewart, B.C.
The vein is located within claims owned by the Summit joint venture held equally by Tenajon Resources (VSE) and Homestake Canada. Tenajon acquired its interest in the joint venture through a recent amalgamation with Royal Scot Resources.
Homestake and Tenajon recently agreed to remove the Bend vein from the joint venture until 1992. Tenajon will then have a 100% interest while Homestake will retain a net smelter return royalty.
Homestake is currently exploring a separate portion of the Summit joint venture property on its own. Tenajon elected not to participate in the 5-hole surface drill program, which will result in its 50% interest being diluted. Results from this year’s drilling on the Bend vein are being evaluated by Tenajon in order to plan the next phase of exploration. Eight of the 10 holes recently drilled on the Bend vein intersected the zone with the following results:
ft. ft. oz./ton
Hole Interval thickness gold
91-1 44.6-48.6 4.0 0.65
91-2 71.5-77.7 6.2 0.43
91-4 55.1-64.8 9.7 0.52
91-5 72.2-81.2 9.0 1.36
91-6 50.8-58.7 7.9 0.96
91-7 72.2-75.8 3.6 0.46
91-9 45.6-52.2 4.6 0.93
91-19 65.9-79.0 13.1 0.37
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